The founder of a failed lending platform has agreed to pay more than $10.5 million to the U.S. SEC to settle charges that he embezzled investors 'funds to buy the collapsed stablecoin TerraUSD (UST), Internet reported. The SEC said in an order issued Tuesday that the platform is called MyConstant, and its founder Huynh Tran Quang Duy (also known as Duy Huynh) lied to clients that their money would be invested in a cryptocurrency-backed loan matching service that would earn 10%. However, the SEC alleges that Huynh actually misappropriated $11.9 million of client funds to purchase TerraUSD (UST), a stablecoin linked to the Terra blockchain, which collapsed in mid-2022, causing billions of dollars to evaporate. MyConstant is one of several cryptocurrency-related companies affected by the Terra crash, which wiped an estimated $500 billion from the crypto market.